MTS.AX finds buyers again around 2.46
Moving lower for the 2nd day in a row, MTS.AX finished the week -7.12% lower at 2.48 after losing A$0.01 (-0.4%) today. Today's closing price of 2.48 marks the lowest close since October 11, 2017. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was A$0.04 (1.61%), that's below last trading month's daily average range of A$0.09. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
After having been unable to move lower than 2.46 in the previous session, the share found buyers again around the same price level today at 2.46.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Metcash Limited
|Bullish Break through SMA 20||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
|RSI(2) above 80||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
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